Financial distress can make you feel like the world is crumbling at your feet. Unbeknownst to many people, filing for bankruptcy is one of the easiest ways out since you are assured of instant property protection, and protection from further financial ruin. In as much as this action is not a financial cure, it gives you time to sit back and strategize your recovery.
Chapter 7 of the bankruptcy code allows individuals and businesses to resolve their debt issues. It is one of the most common bankruptcy laws currently used in the U.S. It is also perceived as the simplest form of bankruptcy available to individuals and corporations.